This course aims to provide students a broad understanding of the evolution of economic ideas from the ancient era to modern day. The study of economists remains relevant as it provides important historical perspective both to theory and to policy. Studying the history of ideas leads us to ask how the development of these ideas was related to the economic and social conditions of the time. In this module students are expected to read extracts from the great economists themselves and not to rely exclusively on secondary expositions.

Textbook

Grant, R. (2012). The Evolution of Economic Thought. Cengage.
Yueh, L. (2018). The Great Economists - How Their Ideas Can Help Us Today. Penguin Books
Berend, I. T. (2016). An economic history of twentieth-century Europe: Economic regimes from laissez-faire to globalization. Cambridge University Press.
http://www.hetwebsite.net/het/home.htm

Learning Outcomes

After successful completion of the course, the student will be able to:

Acknowledge the development of ideas within the field economics.

Engage in economic problem framing by assembling and evaluating evidence and arguments.

Communicate in order to critique, create, and develop a strong argumentation regarding econimic systems

Compare and Contrast the various major schools of economic thought

Teaching Methods

The teaching methods will include lecturing, student presentations, class discussions and debates.

WEEK

TOPIC

REFERENCE

Week 1

Introduction

Week 2

Introduction and Overview

Chapter 1

Week 3

Mercantilism

Chapter 2

Week 4

The Classical School- Adam Smith

Chapter 5

Week 5

The Classical School- David Ricardo (QUIZ 1)

Chapter 7

Week 6

Marxian school

Chapter 8

Week 7

Midterm Exam

MIDTERM

Week 8

The Neoclassical School - Alfred Marshall

Chapter 15

Week 9

The Neoclassical School - Monetary Economics

Chapter 16

Week 10

The Keynesian School - J.M. Keynes / Quiz 2

Chapter 21

Week 11

Theories of Economic Growth and Development

Chapter 23

Week 12

The Chicago School

Chapter 24

Week 13

John Nesh - A Beautiful Mind

Week 14

The New Keynesians

Chapter 22

Week 15

Presentations and review

Assessment Methods and Criteria

Evaluation Tool

Quantity

Weight

Alignment with LOs

Final Exam

1

40

1,2,3,4

Semester Evaluation Compenents

Midterm

1

30

1,2,3,4,

Quiz

3

15

1,2,3,4

Presentation

1

15

1,2,4

*** ECTS Credit Calculation ***

Activity

Hours

Weeks

Student Workload Hours

Activity

Hours

Weeks

Student Workload Hours

Lecture Hours

3

15

45

Midterm

20

1

20

Quizzes

5

3

15

Final

25

1

25

Home Study

3

15

45

Total Workload Hours =

150

*T= Teaching, P= Practice

ECTS Credit =

6

Course Academic Quality Assurance: Semester Student Survey

Last Update Date: 19/03/2020

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